The pricing of iron ore, between mining giants and China, is escalating into a high stakes game. Who stands to benefit? Canadian iron-mining companies, especially producers from Quebec and Labrador. Already, 2010 is looking good.
The steel market is also set to expand by 9.2 per cent in 2010, on rising demand from the US, Japan and Europe, according to the World Steel Association. A report from the Association added that given the increase in demand, Posco is also planning $30 billion of overseas expansion in India, Indonesia and Vietnam to regain its spot as Asia’s largest steelmaker.